Guarantor liability for my daughter

silvercar

It's a joint tenancy agreement. They all have joint and several liability for the rent therefore there is no such thing as the OP's daughter's share of the rent there is just one rent.

That may be, but we have always added a close to any guarantee that we limit the amount of the guarantee to XX less the rent paid by my child.

(XX is the total rent due from my child over the life of the tenancy.)

Pixie5740

silvercar wrote: »

That may be, but we have always added a close to any guarantee that we limit the amount of the guarantee to XX less the rent paid by my child.

(XX is the total rent due from my child over the life of the tenancy.)

Yes you could try and limit your liability that was but your child would still be jointly and severally liable for the whole rent. What would happen if his/her flat mates stopped paying rent and !!!!!!ed off to Thailand or India to "find themselves?" Would you bail your child out anyway?

Marktheshark

silvercar wrote: »

Incidentally, knowing some of the other students that mine have chosen to share with, I don't believe that all letting agents are vigilant in checking out guarantors.

They dont need to if its a joint and several liability, just you will do :eek:, if they decide not to pay, you will be.
You dont even know if they bothered with a guarantor for the rest.

silvercar

Pixie5740 wrote: »

Yes you could try and limit your liability that was but your child would still be jointly and severally liable for the whole rent. What would happen if his/her flat mates stopped paying rent and !!!!!!ed off to Thailand or India to "find themselves?" Would you bail your child out anyway?

Marktheshark wrote: »

They dont need to if its a joint and several liability, just you will do :eek:, if they decide not to pay, you will be.
You dont even know if they bothered with a guarantor for the rest.

I agree, there is a risk.

I have to make a decision on whether to support my child in the way that they need to secure decent accommodation.

I do that by;
a) adding that clause to any guarantor form I am requested to sign.
b) ensure through conversations that other parents are also becoming guarantors.
c) creating the impression in any employer reference etc that I have only just sufficient income to act as a guarantor.
d) getting letting agents to commit in writing that they chase the guarantor of the person behind with the rent as first option.

Ultimately I have to decide whether the risk is a risk I am prepared to make.

In 7 years of student parent guaranteeing, there have been 3 instances where there were problems:
1. another student left mid year owing rent. The remaining students found a replacement after a month and eventually the disappearing tenant (or their parent) paid for that month.
2. deposit deduction due to damage caused by one student, I think my son lost about £50 due to the letting agent taking money equally from all and one student had got away with paying a much lower deposit.:mad:
3. one of the other students died mid year. I don't know whether the landlord didn't pursue the missing rent or whether the family paid or what happened, but we didn't incur any financial penalty. Obviously plenty of other issues that made the missing rent insignificant.

G_M

Marktheshark wrote: »

Lets put it in to prospective.
Would a hotel expect it reasonable to make a guest sign a Guarantor bond to pay every guests bill if these random guests did not pay ?
Of course not.
.

Not a relevant response.

1) most hotels these days require a credit card on arrival (akin to taking a deposit)

2) if a group of guests (family, joint company booking etc) check in, there will normally be a single person/company liable for all.